Callahan Advisors LLC Cuts Position in D.R. Horton, Inc. (NYSE:DHI)

Callahan Advisors LLC reduced its stake in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 10.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,997 shares of the construction company's stock after selling 3,937 shares during the quarter. Callahan Advisors LLC's holdings in D.R. Horton were worth $6,676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DHI. Catalina Capital Group LLC acquired a new position in D.R. Horton during the third quarter worth about $292,000. Amalgamated Bank lifted its stake in shares of D.R. Horton by 0.5% during the third quarter. Amalgamated Bank now owns 60,286 shares of the construction company's stock valued at $11,501,000 after buying an additional 296 shares during the period. Legacy CG LLC purchased a new stake in D.R. Horton in the 3rd quarter valued at about $4,220,000. Impax Asset Management Group plc acquired a new position in shares of D.R. Horton in the 3rd quarter valued at $4,260,000. Finally, PDS Planning Inc purchased a new stake in D.R. Horton during the third quarter valued at about $222,000. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Stock Performance

Shares of D.R. Horton stock traded down $6.49 on Wednesday, hitting $166.78. The stock had a trading volume of 5,284,117 shares, compared to its average volume of 2,511,646. D.R. Horton, Inc. has a twelve month low of $118.07 and a twelve month high of $199.85. The company has a quick ratio of 1.61, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. The stock has a market cap of $54.34 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 0.56 and a beta of 1.74. The business's 50 day moving average is $185.82 and its two-hundred day moving average is $165.98.

D.R. Horton (NYSE:DHI - Get Free Report) last released its earnings results on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing the consensus estimate of $4.17 by ($0.25). D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same period in the prior year, the business earned $4.45 earnings per share. D.R. Horton's quarterly revenue was down 4.7% compared to the same quarter last year. Analysts forecast that D.R. Horton, Inc. will post 15.64 EPS for the current year.

D.R. Horton declared that its Board of Directors has initiated a stock repurchase program on Thursday, July 18th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

D.R. Horton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from D.R. Horton's previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a yield of 0.96%. D.R. Horton's dividend payout ratio is presently 8.36%.

Wall Street Analyst Weigh In

Several research firms have commented on DHI. Wedbush raised D.R. Horton from an "underperform" rating to a "neutral" rating and set a $165.00 price objective on the stock in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods boosted their price target on D.R. Horton from $178.00 to $208.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. Citigroup cut their target price on shares of D.R. Horton from $186.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. UBS Group lowered their price target on shares of D.R. Horton from $217.00 to $214.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Finally, Evercore ISI cut their target price on D.R. Horton from $218.00 to $204.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $185.87.

D.R. Horton Profile

D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.